Dogecoin Co-Founder Reacts to Bitcoin and Dogecoin Surge

Dogecoin’s co-founder, Billy Markus, known as "Shibetoshi Nakamoto" on X, has commented on the recent price increases of Bitcoin (BTC) and Dogecoin (DOGE).

Earlier, Markus humorously predicted that "Bitcoin would reach $69,420, while Dogecoin would hit $0.16942," emphasizing the importance of memes in the crypto space. Now, with both cryptocurrencies achieving new highs, he revisited his earlier prediction, quipping, "Well, Bitcoin and Doge listened to the prophecy, anyway."

In a recent tweet, Markus said, "It's a great day for crypto," acknowledging the significant overall market rise, with Bitcoin achieving a record high and several digital assets recording double-digit gains.

Dogecoin saw an increase of over 22% as meme coins surged on early Wednesday. This price movement coincided with Bitcoin hitting a new high of $75,000. Currently, meme coins and AI-related cryptocurrencies are outperforming the broader crypto market, indicating retail investors' risk appetite.

At the time of writing, DOGE was up 18% in the last 24 hours to $0.197, marking a 17% increase for the week. Futures tied to DOGE indicated $30.5 million in short liquidations over the past day—a significant amount suggesting that the price surge was partially driven by traders covering losing positions. Over the past 30 days, DOGE’s gains have reached approximately 75%, making it the leading major cryptocurrency.

Bitcoin Hits New ATH

Bitcoin rebounded overnight, achieving an all-time high of $75,410, with a maximum increase of 10%. Although it slightly retraced, it remained up 7.15% at $73,553.

Previously, Bitcoin’s high of $73,797.68 was recorded on March 14, as investor inflows into U.S. Bitcoin exchange-traded funds provided a boost. For most of the year, Bitcoin traded below $70,000 before this recent spike.

In 2024, BTC has surged by 75%, surpassing stocks and gold. U.S. spot Bitcoin ETFs, including those from BlackRock Inc and Fidelity Investments, have amassed $23.5 billion in net inflows since the year's beginning, marking them as some of the most successful new ETFs ever.

Apart from cryptocurrencies, U.S. equity futures, the dollar, and Treasury yields have also risen significantly in the past 24 hours.

This article was originally published on U.Today